Hospital Boosts Revenues, Stays Out of Debt

Members of the Sheridan Memorial Hospital board learned today that the consolidated gross revenue for the past fiscal year grew by 16 percent, from $120 million to $129 million, and the hospital is carrying no debt. They also learned there were no MRSA or control-line infections reported for the past year. The announcements came during the first meeting of the new fiscal year, with Kevin Bailey taking over as chairman.

During the meeting, a significant amount of time was spent talking about the strategic plan for the hospital and staff and what’s been dubbed as a culture of safety. Hospital CEO Mike McCafferty said the work of gathering input from staff and community members continues and the information being gathered will shape their direction leading forward.

He said: “We must be able to execute plans to be successful and we need quality in leadership.”

They’re still looking for a CFO to fill the spot left open by Ed Johlman, who resigned in May and left the end of June. Candidates interviewing for the position are surprised, he said, that the hospital is operating without debt. Still, the future is challenging. McCafferty said health care is expensive, but they need to be as consumer friendly as possible.

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